Why bother looking for horse racing tips today, when you can do a bit of matched betting and make low-risk profits? Paddy Power are back with another Money Back Special on todays horse racing. If your horse finishes 2nd or 3rd in the 2.00 at Haydock race course, Paddy Power will refund all losing outright bets on that race as a free bet up to £50.00. Translated into matched betting terms, this gives us a potential profit of £35.11 and here’s how…
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walkthrough guide on how it should be done.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd or 3rd placed finish. Having looked at the odds on offer, I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on Rite to Reign. We can work out our lay stake using the matched betting calculator.
Place £50.00 on Rite to Reign @ 8.50 = Potential profit of £375.00
Lay £47.49 on Rite to Reign @ 9.00 = Potential liability of £379.89
Let’s have a look at our potential profit/loss for the possible outcomes…
| Rite to Reign wins | +£375.00 – £379.89 = £4.89 loss |
| Rite to Reign places 2nd or 3rd | -£50.00 + £45.11 + £40.00 (extract 80% from our £50.00 free bet) = £35.11 profit |
| Rite to Reign places outside top 3 | -£50.00 + £45.11 = £4.89 loss |
So if Rite to Reign places 2nd or 3rd, we will make £35.11 profit. Any other result and we will lose £4.89. Ordinarily, I would advise laying Rite to Reign to place in the top 3 but due to the number of runners in the race, the bookmakers are offering a top 4 place market which would leave us vulnerable to a 4th placed finish. A £4.89 risk to make £35.11 profit gives us effective odds of 8.18, so I’m sure you’ll agree, the potential profit far outweighs the potential loss, making this a profitable offer in the long run.
If you’re unsure how to extract 80% of our £50.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.